Ross Stores, Inc.
Company History
Ross Stores History: Founding, Growth & Key Milestones
Founded 1982 in San Bruno, California, United States
When was Ross Stores founded?
Ross Stores was founded in 1982 in San Bruno, California, United States by Morris Ross, Bill Isackson, Stuart Moldaw and Don Rowlett, making it 44 years old.
- Founded
- 1982
- Founding place
- San Bruno, California, United States
- Founders
- Morris Ross, Bill Isackson, Stuart Moldaw and Don Rowlett
- Headquarters today
- Dublin, California
- Milestones documented
- 9 (1950–2026)
- Current CEO
- James G. Conroy
- Acquisitions
- 1
| Year | Event |
|---|---|
| 1950 | Original Ross store opens |
| 1982 | Off-price format begins |
| 1982 | Acquired Six-store Ross department store chain |
| 1985 | Ross Stores IPO |
| 2004 | dd's DISCOUNTS launches |
| 2014 | Barbara Rentler Becomes CEO |
| 2025 | James Conroy becomes CEO |
| 2025 | Fiscal 2025 sales reach $22.8B |
| 2026 | Strong first half of fiscal 2026 |
- Where was Ross Stores founded?
- Ross Stores was founded in San Bruno, California, United States in 1982.
- Who founded Ross Stores?
- Ross Stores was founded by Morris Ross, Bill Isackson, Stuart Moldaw and Don Rowlett.
- When did Ross Stores start?
- Ross Stores was founded in 1982.
- How old is Ross Stores?
- Ross Stores is 44 years old as of 2026.
Founding Story
The Ross name dates to a single San Bruno, California department store opened by Morris Ross in 1950. Bill Isackson bought it in 1958 and grew it to six Bay Area stores. In 1982, an investor group including Stuart Moldaw and Don Rowlett bought that chain and converted it to the off-price Ross Dress for Less format. Ross went public on Nasdaq in 1985 and launched dd's DISCOUNTS in 2004.
Founders
Morris Ross
Morris Ross opened the original Ross department store in San Bruno, California, in 1950. He ran the single store for several years before selling it in 1958. The off-price company that exists today kept his surname but was built by a later ownership group in 1982. (Exact birth year remains publicly undisclosed).
Bill Isackson
Bill Isackson bought the Ross store from Morris Ross in 1958 and grew it into a small chain of six Bay Area junior department stores. That six-store chain is what an investor group bought in 1982 and converted to the off-price format. (Exact birth year remains publicly undisclosed).
Stuart Moldaw
Stuart Moldaw was a Bay Area retail entrepreneur and venture investor who led the 1982 purchase of the six-store Ross chain with Don Rowlett and other investors. The group converted the stores to the off-price Ross Dress for Less format, and Moldaw served as an early chairman as the company went public in 1985. (Exact birth year remains publicly undisclosed).
Don Rowlett
Don Rowlett was the retail operator in the 1982 investor group that bought the Ross chain. He is credited with shaping the early off-price merchandising approach: buying branded goods opportunistically and selling them well below department store prices in low-cost stores. (Exact birth year remains publicly undisclosed).
Key Milestones
Original Ross store opens
Morris Ross opened the original Ross department store in the San Francisco Bay Area, creating the name later used by the chain.
Source: investors.rossstores.comOff-price format begins
Six junior department stores in the San Francisco Bay Area were acquired and converted to the Ross Dress for Less off-price format.
Source: investors.rossstores.comAcquired Six-store Ross department store chain
Ross Stores acquired Six-store Ross department store chain. An investor group including Stuart Moldaw and Don Rowlett bought the six Bay Area Ross stores to convert them to an off-price format.
Source: investors.rossstores.comRoss Stores IPO
Ross Stores went public on Nasdaq under the ticker ROST.
Source: investors.rossstores.comdd's DISCOUNTS launches
Ross created dd's DISCOUNTS to serve a more moderate-income value customer with deeper discounts.
Source: investors.rossstores.comBarbara Rentler Becomes CEO
Barbara Rentler became chief executive of Ross Stores in June 2014.
Source: en.wikipedia.orgJames Conroy becomes CEO
James G. Conroy became CEO at the start of fiscal 2025, succeeding Barbara Rentler.
Source: sec.govFiscal 2025 sales reach $22.8B
Ross reported record full-year sales of $22.8 billion for the fiscal year ended January 31, 2026.
Source: sec.govStrong first half of fiscal 2026
First-half sales rose 17% to $12.3 billion with comparable store sales up 13%; Q2 results included about $253 million in IEEPA tariff refunds.
Source: prnewswire.comMajor Acquisitions
Six-store Ross department store chain
1982An investor group including Stuart Moldaw and Don Rowlett bought the six Bay Area Ross stores to convert them to an off-price format.
Keep researching Ross Stores
Ross Stores Company History FAQ
When and how was Ross Stores originally founded?
Ross Stores traces its origins to 1950 when Morris "Morrie" Ross opened a small junior department store in San Bruno, California. In August 1982, retail entrepreneurs Stuart Moldaw and Donald Rowlett, backed by venture investors including Mervin Morris, purchased the six-store chain and converted it into an off-price apparel retailer.
Who was Stuart Moldaw and what was his vision for Ross Stores?
Stuart Moldaw was a veteran retail entrepreneur who had previously founded Country Casuals and Pic-A-Dill. He recognized that soaring department store markups created an opening for an off-price retailer selling first-quality designer brands at 20% to 60% discounts in convenient strip malls.
When did Ross Stores complete its Initial Public Offering (IPO)?
Ross Stores went public on the NASDAQ under ticker symbol "ROST" in August 1985, raising capital to expand from its Northern California base into Washington, Oregon, Arizona, Texas, and Oklahoma.
How did Ross Stores avoid bankruptcy during the off-price shakeout of the late 1980s?
While early off-price competitors like Pic 'N' Save and Clothestime struggled, Ross instituted strict computerized merchandise tracking, central warehouse replenishment, and hired seasoned merchant Norman Ferber in 1987 to tighten inventory turns and eliminate slow-moving stock.
When was "dd's DISCOUNTS" launched and what was its market purpose?
In 2004, Ross Stores launched dd's DISCOUNTS (named after former CEO Donald Rowlett or "deep discounts") to target lower-income working-class households looking for even deeper bargains (40% to 70% off regular prices) in neighborhood strip centers.
How did Michael Balmuth transform Ross Stores as CEO (1996-2014)?
Michael Balmuth grew Ross from a regional chain of ~300 stores into a national off-price retail empire of over 1,200 locations, driving annual sales from $1.4 billion to over $11 billion while delivering consistent double-digit earnings growth and establishing its Fortune 500 status.
How did Barbara Rentler build upon that legacy as CEO (2014-2024)?
Barbara Rentler, who joined Ross in 1986 as an assistant buyer, became the first female CEO of Ross Stores in June 2014. Under her 10-year tenure, Ross added nearly 1,000 stores, surpassed $20 billion in annual revenue, and demonstrated remarkable supply-chain resilience during the COVID-19 pandemic.
Why did Ross Stores famously refuse to operate an e-commerce website?
Ross deliberately avoided online shopping because shipping individual discounted $10 to $20 garments and processing high customer return rates destroys operating margins. Keeping sales 100% in-store protected low pricing and preserved the addictive in-person "treasure hunt" experience.
How did Ross Stores navigate the 2008 Great Recession and 2020 pandemic?
During the 2008 Great Recession, cash-strapped middle-class shoppers traded down to Ross, accelerating market share gains. During the 2020 pandemic lockdowns, Ross paused rents and cut capital expenditures, reopening to explosive pent-up consumer demand.
Where is the corporate headquarters of Ross Stores located?
While founded in San Bruno, Ross Stores is headquartered in Dublin, California (in the East Bay region of the San Francisco Bay Area), supported by major corporate buying offices in New York City and Los Angeles.
Who was appointed CEO of Ross Stores in 2024-2025?
In late 2024, Ross Stores appointed James Conroy (the highly respected former CEO of Boot Barn) as Chief Executive Officer effective February 2025, succeeding Barbara Rentler, who transitioned to a senior advisory role.
What is Ross Stores' long-term store expansion target in the United States?
Ross Stores maintains a long-term target of expanding its domestic footprint to at least 3,600 locations (2,900 Ross Dress for Less stores and 700 dd's DISCOUNTS stores), believing the off-price segment can absorb hundreds of additional locations in under-penetrated markets.
Related Companies
Compare Ross Stores, Inc. History With Competitors
Related Strategic History
Compare founding milestones and corporate evolution
Explore Ross Stores
Core profile pages, founders and related research hubs for this company.